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10689 N Reed Road
Morley, MI 49336
$564,900
Conventional
Property
Bedroom
4
Bathroom
2
Property Type
Conventional
Square ft
2540
Property Description
NOTICE: Priced below recent professional appraisal (available to qualified buyers). Opportunities here! Listed as two options: 24.5 acre farm w/ all barns, farmhouse, industrial- quality garage-barn w/office apartment above OR 2 acres w farmhouse, industrial- quality garage-barn w/office apartment above. (See listing MLS #24014372 for 2 acres w/ house, split approved, PP# to be issued upon mtg payoff). Seller got married and is selling the farm! Excellent rental history, of house at $1350 per month, industrial-quality garage barn w/ office apartment above at $400 per month, and farmer hay lease at $75 per acre. This parcel includes grand scale turn-of-the-century hay barn (previous owners reminisced that it was a Sears Roebuck mail order brought by train) with milking room w/ wood stove, livestock stalls downstairs, and grand vaulted hay storage space upstairs. Coral with round bail feeder and small old shed behind. Large open pole barn has ample storage space for tractors and farm equipment. Old pig-pen was used a couple years ago when seller raised 2 pigs there. There is a large swimmable pond area to the north end of the parcel which has water in it some years and is dry other years. Would a windmill help for consistency? Parcel is partially fenced with some gates. Previous sellers held rodeos here, and also leased acreage to corn farmers, however much of the acreage has not had any farming chemicals used for 4 to 6 years. Land is very sandy which is considered suitable for crops such as potatoes, sugar beets, carrots, grapevines, lavender, sunflowers, and many other crops. (Check with professionals for crop choice confirmation and soil testing). Industrial-quality garage barn w/office apartment above has its own electrical service and propane tank. High ceilings can accommodate a semi truck or very large boat or RV, tractor, or approx. 5 cars or trucks. One full bath and livingroom area upstairs with one apartment style office. Use caution on rustic stairs to upper level. House has 4 bedrooms (one was added by reducing LR w/no closet, has egress), 2 full baths. Full walk-out basement has had water remediation by professional service companies. Roof new within last 5 years, furnace new in 2018, new stairs in basement from walk-out Bilco doors. 2 car attached garage.
Property Information
Lot Size
24 acre(s) square ft
Property Type
Residential
Year Built
1978
MLS Number
24014367
Location
Address
10689 N Reed Road
City
Morley
State
MI
Zip Code
49336
County
MECOSTA
Listing
Provider
Real Estate for A CAUSE, original listing
Name
Real Estate for A CAUSE
Phone
(810) 344-7275
Office Name
Real Estate for A CAUSE
Office Phone
(810) 344-7275
Agent Name
Corey Dean

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As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.